Massachusetts Financial Services Co. MA Has $238.83 Million Stock Holdings in Targa Resources, Inc. $TRGP

Massachusetts Financial Services Co. MA decreased its position in Targa Resources, Inc. (NYSE:TRGP) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,425,513 shares of the pipeline company’s stock after selling 18,017 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Targa Resources were worth $238,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Targa Resources by 260.2% during the second quarter. Nordea Investment Management AB now owns 128,911 shares of the pipeline company’s stock worth $22,526,000 after buying an additional 93,119 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Targa Resources by 137.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 66,636 shares of the pipeline company’s stock valued at $11,164,000 after acquiring an additional 38,626 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Targa Resources by 2.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 682,300 shares of the pipeline company’s stock worth $114,313,000 after acquiring an additional 16,000 shares during the last quarter. Aberdeen Group plc grew its holdings in Targa Resources by 17.6% during the second quarter. Aberdeen Group plc now owns 175,571 shares of the pipeline company’s stock valued at $30,563,000 after purchasing an additional 26,318 shares during the period. Finally, OFI Invest Asset Management grew its holdings in Targa Resources by 6.5% during the second quarter. OFI Invest Asset Management now owns 243,628 shares of the pipeline company’s stock valued at $42,411,000 after purchasing an additional 14,883 shares during the period. 92.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the completion of the transaction, the insider owned 22,139 shares in the company, valued at approximately $3,812,557.19. This represents a 47.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the transaction, the insider directly owned 29,561 shares of the company’s stock, valued at approximately $5,356,748.81. This trade represents a 8.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TRGP shares. Stifel Nicolaus set a $213.00 target price on shares of Targa Resources in a report on Thursday, November 6th. Scotiabank restated an “outperform” rating and issued a $224.00 price objective on shares of Targa Resources in a research report on Friday. BMO Capital Markets raised their price objective on Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their target price on Targa Resources from $240.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $196.00 price target on shares of Targa Resources in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $213.14.

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $185.46 on Tuesday. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market cap of $39.81 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 0.90 and a beta of 0.87. The stock’s 50-day moving average is $178.36 and its 200-day moving average is $168.80. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $218.51.

Targa Resources (NYSE:TRGP) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.70 billion. Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. Equities analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $1.00 dividend. The ex-dividend date is Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.2%. Targa Resources’s dividend payout ratio (DPR) is 53.19%.

About Targa Resources

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.